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Peninsula Energy Appoints Tony Allen To Role Of Chief Financial Officer

Peninsula Energy (ASX: PEN) has appointed Tony Allen, former Magellan Metals general manager finance and commercial, as chief financial officer.

Allen is a Certified Practicing Accountant with over 25 years experience in the mining industry; the majority at production phase companies, within the U.S., Australia and overseas at a senior operational level.

He joins Peninsula from Magellan Metals, a wholly owned subsidiary of Ivernia Inc. (TSX: IVW), where he was general manager finance and commercial.

Prior to joining Magellan, Allen was vice president, finance for Iluka Resources (ASX: ILU), where he was responsible for all financial, commercial, and legal operations for their U.S. subsidiary.

Allen was also chief financial officer of Griffin Coal and held senior accounting positions at the Tiwest Joint Venture and BHP (ASX: BHP).

Gus Simpson, chairman of Peninsula Energy, commented on the appointment: "We are very pleased to appoint Tony. His cross border financial, commercial and operational experience strengthen the executive team as Peninsula transitions to a uranium producer."

Peninsula is working to bring its Lance Uranium Projects into production with construction set to begin in the December quarter of 2012.

The Lance ISR Projects currently host a JORC Resource of 51.5 million pounds uranium and is targeted for production in the second half of 2013.

A Feasibility Study anticipates the expanded project including the Ross, Kendrick and Barber Production Units feeding a central processing plant with an expandable capacity of up to 3 million pounds per annum, but excludes the production of vanadium at this stage.

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